The Port of Los Angeles, the largest port in the U.S., predicts a 35% drop in shipments, nearly all from China, in a matter of weeks.

President Trump’s apparent softening on tariffs has strengthened Chinese officials’ resolve that he will eventually cave if they wait him out.

President Donald Trump on Wednesday said a 25 percent tariff imposed on cars imported from Canada to the United States could go up. "When I put tariffs on Canada - they're paying 25 percent - but that could go up,